March 24, 2026
Published by 
Jarod Bernat on March 24, 2026
Jarod Bernat on March 24, 2026Succession planning in the funeral profession is never just a transaction, it’s a deeply personal process tied to family legacy, community trust, and identity. For one generation, the business represents a lifetime of work; for the next, it represents opportunity, responsibility, and often a different vision for the future. The difference between a smooth transition and a strained one often comes down to expectations. When assumptions go unspoken, conflict follows. When expectations are clear, succession becomes a strength not a strain. Passion alone isn’t enough to lead a modern funeral home. Ownership today requires financial acumen, operational discipline, leadership, compliance, and adaptability. Successors need time, exposure, and often experience outside the family business to build those skills. Without true readiness, the risk isn’t just operational, it’s the legacy itself. At the same time, family dynamics should not dictate business structure. […]
September 25, 2025
Published by Jarod Bernat on September 25, 2025
Jarod Bernat on September 25, 2025Scenario: Paul Gibson, age 63, was the owner and operator of Gibson Funeral Home, a small-town funeral home in a micropolitan area of the Midwest. Paul had built a reputation over decades as a dependable figure in his community, serving approximately 140 families per year. With a lean operation staffed by only himself and another funeral director (also nearing retirement and uninterested in ownership), Paul found himself at a crossroads. After decades of running the funeral home, Paul was ready to retire. He had a two-year horizon before he planned to fully step away and become eligible for Medicare. Willing to consult for a buyer during that transition, Paul envisioned exiting the business gracefully. In 2023, he put the business on the market hoping to achieve a $3 million sale price, a figure based on inflated financials during the COVID-19 […]
June 23, 2025
Published by Jarod Bernat on June 23, 2025
Jarod Bernat on June 23, 2025Intentional, transparent communication must be integrated into every step of your succession plan. Within the funeral profession – a field built on tradition, legacy and long-standing community ties –succession planning carries a particularly emotional and operational weight. The transition of leadership from one generation to the next is about ownership and financial continuity but also about the preservation of trust, culture and relationships cultivated over decades. At the heart of this delicate process lies a single powerful tool: communication. Communication is not just a helpful part of succession planning; it is the very foundation that determines whether a transition is smooth and successful or fraught with conflict, confusion and frustration. In a profession where trust is paramount, the way leaders communicate with their successors, staff, clients and community can make or break the legacy they worked so hard to build. […]
January 28, 2025
Published by Jarod Bernat on January 28, 2025
Jarod Bernat on January 28, 2025It is hard to overstate how monumentally important selling a business is to a business owner. In most cases, 80% of a business owner’s entire net worth rests solely within the business itself. And other than selling a home, this is likely the largest liquidity event of a business owner’s life. These financial implications, along with the multitude of other factors that go into deciding to eventually sell a business, make it easy to understand why business owners seek expert guidance to help them navigate these situations. But most importantly, it is crucial to keep all your advisors on the same page so they can collaboratively guide you towards the best possible outcome. A couple of years ago, Foresight experienced a situation where a funeral home owner consulted multiple experts to assist with the sale of their business. However, since […]
November 25, 2024
Published by Jarod Bernat on November 25, 2024
Jarod Bernat on November 25, 2024The highs and lows of business valuation and the tools and processes you need in place for a successful transfer of ownership. It’s been difficult not to notice the craziness happening all around us and how it impacts the economy in turn. Just consider that the funeral service profession also experienced some of the most significant ups and downs throughout the COVID pandemic and its aftermath. With death rates fluctuating year to year and competent staffing becoming increasingly more difficult to retain, combined with the overall shift in the economic environment today, tracking the value of your business has been anything but linear lately. In the 2023 NFDA Member Succession Planning Study, only 53.1% of owners surveyed responded that they knew the value of their business. Even then, this does not differentiate “yes” responses among those who know the value […]
October 30, 2024
Published by Jarod Bernat on October 30, 2024
Jarod Bernat on October 30, 2024We’ve all heard the common adage “Location, Location, Location” used to denote which important factors influence home values most. This phrase also proves to be just as applicable to cemeteries and funeral homes, but not just because these businesses are often operated out of valuable commercial properties. The location, and more specifically, the demographics of the service markets of these businesses, impact how we must approach strategic business planning with regards to pricing, staffing, and succession planning. “Demographics” as a broad term refer to the statistical data and characteristics relating to a defined population and the groups within it. In a profession like ours, this information is vital to the success of our businesses now and in the future, since the communities we serve often determine their service provider based on whom they feel most comfortable with and relate to […]
June 27, 2024
Published by Jarod Bernat on June 27, 2024
Jarod Bernat on June 27, 2024As the first half of 2024 comes to a close, it is time to take a look back at how the year has unfolded so far. I’m sure everyone established a budget at the start of 2024, and I’m also sure everyone has set aside time to review how they’ve done versus their expectations through the first six months of the year. Could you read my sarcasm there? Okay, maybe it’s a bit presumptive to assume everyone took time to budget their year out, especially since we’re talking about a profession that’s infamous for being a 24/7 commitment. But it is vitally important to our evolution as business owners to set goals each year, and then afterwards, reflect on our performance against those goals. This means that we must intermittently self-evaluate to identify times in which we may need to […]
February 29, 2024
Published by Jarod Bernat on February 29, 2024
Jarod Bernat on February 29, 2024As we collaborate with our clients on their business operations, one of the components that we always factor in is creating a proper your succession plan early so that you are prepared well in advance of your transition out of the profession. Planning for your future now is vital. We asked Senior Associate, Jarod Bernat to share his insights on how the importance of a succession plan for a funeral home or cemetery business. Question: I do not have a succession plan for my business created yet. Do I really need one? Jarod Bernat: It often seems that within our profession, “planning for the future” takes on a different meaning than it does to the rest of the world. The funeral and cemetery profession is dominated by devoted servants to their communities who plan their lives and their businesses one […]
November 28, 2023
Published by Jarod Bernat on November 28, 2023
Jarod Bernat on November 28, 2023Growing your business can be challenging for some owners and operators within the funeral and cemetery profession. Between competition in your market to adapting to new consumer behaviors, we understand the process of growth can become complex. We asked Senior M&A Analyst, Jarod Bernat to further elaborate significant ways to expand your business. Question: I feel like our funeral home’s market share has hit a plateau and can’t seem to grow any further. How can I continue to grow my business? Jarod Bernat: Since the funeral industry is one where serviceable market areas and direct competitors can be easily identified and tracked, it’s easy to keep up with how you compare to “the other guys”. Sometimes it might feel like you’ve exhausted all resources trying to grow within your market, but you’ve hit a wall and case count won’t budge. […]
August 28, 2023
Published by Jarod Bernat on August 28, 2023
Jarod Bernat on August 28, 2023Over the past few decades, we saw the introduction of the FTC rule requiring funeral homes to provide families with GPL’s when requested, the introduction of the internet providing a whole new interface with consumers, and the newest FTC rule requiring online access to GPL’s in some states. Given that the industry is well-known for not being early adapters to new technology or trends, it is no surprise that there has been significant pushback to the utilization of the internet to display pricing within the profession. Business owners fear that when prices are posted online, they will be compared to their competitors, and prices will become a race to the bottom. But while this may seem like the only possible conclusion at first glance, there is much more to consider as the internet can really be a massive opportunity to […]
May 29, 2023
Published by Jarod Bernat on May 29, 2023
Jarod Bernat on May 29, 2023It’s well known that in our industry, there are slow and high-volume periods that vary with the seasons due to the ebbs and flows of mortality rates as the year progresses. The timing of these periods can vary from region to region, but generally, they are fairly predictable based on historical precedent – this is what we call “seasonality”. During the summer, the sun nourishes our bodies with more Vitamin D than the rest of the year improving our immune systems, we’re more active outdoors, and overall moods improve. These factors combine to lower mortality rates compared to the winter month when the cold and lack of sunlight negatively impacts our immunity and health. Based on The Journal of Steroid Biochemistry and Molecular Biology, US death rates are about 25% higher in winter than in the summer. This means that […]
October 24, 2022
Published by Jarod Bernat on October 24, 2022
Jarod Bernat on October 24, 2022Understanding the value of your business is vital. Not only is it needed if you were considering selling your funeral home or cemetery, but it is also important to know to operate strategically and efficiently. One of the major components in your valuation is the property value. We asked Senior M&A Analyst, Jarod Bernat to further elaborate on this significant element of your business valuation. Question: Why do you value my property at “X” amount in your valuation when surrounding commercial real estate is worth X+100? Jarod Bernat: Real estate values seem like a straightforward topic since it is public record to see the exact sales price of recently sold comparable properties in your market. Thus, it would make sense to think your property would be comparable to those in value. However, this real estate value is decided by the […]